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Congress Trading Ban: A Step Towards Transparency

Democratic lawmakers are pushing for a ban on stock trading by members of Congress, citing concerns over insider trading and conflicts of interest. The proposed ban aims to prevent lawmakers from using sensitive information for personal gain.

Key Proponents

- *Rep. Alexandria Ocasio-Cortez*: Backed a bill to ban lawmakers from owning or trading stocks, emphasizing that access to sensitive information should solely be used to serve the American people.

- *House Minority Leader Hakeem Jeffries*: Expressed support for legislation similar to Ocasio-Cortez's bill, stating that sitting members of Congress shouldn't trade stocks while in office.

Rationale

- *Preventing Insider Trading*: Lawmakers have access to non-public information that could influence market decisions.

- *Restoring Public Trust*: The ban aims to demonstrate Congress's commitment to transparency and accountability.

Challenges

- *Defining Sensitive Information*: Determining what constitutes sensitive information and ensuring compliance.

- *Enforcement*: Implementing effective mechanisms to monitor and enforce the ban.

Related Legislation

- *Ban Congressional Stock Trading Act*: Introduced in the 117th Congress, this bill aimed to prohibit members of Congress and their spouses from purchasing or selling certain securities ¹.